3Ware 2001 Annual Report Download - page 14

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P R O F O R M A F I N A N C I A L H I G H L I G H T S
P R O F O R M A F I N A N C I A L H I G H L I G H T S (U N A U D I T E D)
AMCC is providing pro forma financial information so investors can compare our onging operating results without
nonrecurring and non-cash charges. Pro forma operating results differ from GAAP basis operating results. See the
schedule of pro forma adjustments on page 13 for a reconciliation to our GAAP basis operating results.
(in thousands, except per share data and percentages) Fiscal 2000 Fiscal 2001
Fiscal quarter Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total
Net revenues . . . . . . . . . . $31,643 $37,898 $45,762 $57,049 $172,352 $74,188 $97,007 $143,269 $121,079 $435,543
Cost of revenues . . . . . . . 10,283 11,326 13,209 15,355 50,173 19,273 24,403 34,316 32,728 110,720
Gross profit . . . . . . . . . . . 21,360 26,572 32,553 41,694 122,179 54,915 72,604 108,953 88,351 324,823
Operating expenses:
Research and
development . . . . . 6,354 7,194 8,281 10,788 32,617 14,542 18,610 30,900 39,205 103,257
Selling, general and
administrative . . . . 5,569 6,548 7,061 8,736 27,914 10,425 13,430 19,886 21,228 64,969
Total operating expenses . . 11,923 13,742 15,342 19,524 60,531 24,967 32,040 50,786 60,433 168,226
Operating income . . . . . . 9,437 12,830 17,211 22,170 61,648 29,948 40,564 58,167 27,918 156,597
Interest income, net . . . . . 884 1,005 1,225 9,758 12,872 12,277 13,465 14,771 14,936 55,449
Income before
income taxes . . . . . . . 10,321 13,835 18,436 31,928 74,520 42,225 54,029 72,938 42,854 212,046
Provision for income taxe s . . 3,535 4,738 6,324 10,914 25,511 14,356 18,370 24,800 14,571 72,097
Net income . . . . . . . . . . . $ 6,786 $ 9,097 $12,112 $21,014 $ 49,009 $ 27,869 $ 35,659 $ 48,138 $ 28,283 $139,949
Earnings per share (diluted) . . $ 0.03 $ 0.04 $ 0.05 $ 0.08 $ 0.21 $ 0.11 $ 0.13 $ 0.16 $ 0.09 $ 0.48
Shares used in calculating
diluted earnings
per share . . . . . . . . . . 228,224 231,728 235,216 258,048 238,304 265,162 271,798 305,791 315,741 289,623
Statement of Operations Data as a Percent of Revenue
Gross margin . . . . . . . . . . 67.5% 70.1% 71.1% 73.1% 70.9% 74.0% 74.8% 76.0% 73.0% 74.6%
Operating margin . . . . . . 29.8% 33.9% 37.6% 38.9% 35.8% 40.4% 41.8% 40.6% 23.1% 36.0%
Net margin . . . . . . . . . . . 21.4% 24.0% 26.5% 36.8% 28.4% 37.6% 36.8% 33.6% 23.4% 32.1%
Sequential Growth Rates
Revenue increase
(decrease) . . . . . . . . . . 10% 20% 21% 25% 64% 30% 31% 48% (15)% 153%
Net income increase
(decrease) . . . . . . . . . . 102% 34% 33% 73% 186% 33% 28% 35% (41)% 186%
Diluted earnings per share
increase (decrease) . . . 99% 32% 31% 58% 163% 29% 25% 20% (43)% 135%